Royal Bank of Scotland's annual report on Thursday will keep bonuses in the spotlight as controversy surrounding pay in the sector refuses to die down.

The latest revelations showed that chief executive Stephen Hester and a raft of executives are entitled to millions of pounds in long-term bonus shares for 2010 - not originally revealed in its Project Merlin deal with the Government.

Mr Hester was awarded an extra £4.5 million in shares, deferred until 2014 and dependent on performance targets. That would take his total pay package for 2010 to a potential £7.7 million when added to his £2 million annual bonus and £1.2 million salary.